It's ironic that the Bank of Canada is talking about overvalued home prices and consumer debt levels, when in fact, it is their own stable interest rate policy that has enabled them! This is not a criticism, just an observation. What else could they do?

When you have an advancement of technology it is like an increase in power or wealth. This demands a commensurate increase in discipline, humility, otherwise only ill will come of it.

In this case the advancement in technology is deeper understanding of the economy e.g. watching the core inflation rate vs. the nominal one. Another example is the advancement of the development sector to the point where the housing inventory moves much more in synch with housing demand.

So it's amusing that the efforts (and luck) that have kept Canadian mortgage rates low and steady have naturally contributed to greater reliance on credit and are now also eliciting a constant stream of cautionary remarks from policy makers.

The message is essentially this, "you can have more material wealth, if you will only just tame your materialism!"

yah....... I think that a fair number of those that work in the oil and gas industries are going to lose their jobs no? then they sell houses quickly due to job losses.... This can't possibly be an "event". that could be a "trigger" for Alberta real estate eh?